Slide 1: Q3 2025 results
Q3 2025 results Accelerated growth and portfolio momentum drives performance Conference call and webcast for analysts and investors 20 October 2025
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains certain forward-looking statements with respect to certain of the Company’s current expectations and projections about future events. These statements, which sometimes use words such as “intend,” “proposed,” “plan,” “expect,” and words of similar
Slide 3: Agenda
Agenda Guido Oelkers Business update Chief Executive Officer Henrik Stenqvist Financials Chief Financial Officer Lydia Abad-Franch R&D pipeline Head of R&D and Chief Medical Officer Summary & Q&A 3
Slide 4: Key takeaways for Q3 2025
Key takeaways for Q3 2025 Outstanding Q3 growth of 21% in CER – driven by 39% growth in our strategic products portfolio Strong margin evolution delivering 47% adjusted EBITA We are rebasing our Vonjo strategy, taking an impairment of SEK 6.6bn, clear path to deliver future growth Significant pipeli
Slide 5: Outstanding growth of 21% CER in Q3 delivered by our portfolio and across all regions
Outstanding growth of 21% CER in Q3 delivered by our portfolio and across all regions Total net sales, SEK M, growth at CER Strategic products, SEK M Revenue by region Doptelet 1,408 Strategic1 +21% Foundational Beyfortus Europe 2,715 +21% 7,776 royalty 1,166 6,894 Altuvoct 769 North 5,001 Gamifant
Slide 6: Doptelet: Sobi's largest product continues to deliver strong momentum
Doptelet: Sobi’s largest product continues to deliver strong momentum, growing 46% at CER Doptelet SEK 1,408 M +46% Q3 Doptelet • Excellent efficacy coupled with less diet restriction has made Doptelet an important choice in ITP • The brand has evolved into a truly global franchise, with strong mome
Slide 7: Beyfortus: Strong fundamentals with typical uncertainty on season start
Beyfortus: Strong fundamentals – with typical uncertainty on season start and inventory levels Beyfortus seasonal revenue Q3 SEK 1,166 M Fundamentals remain strong - based on survey of >100 Product High Beginning physicians shortage demand of season • RSV immunisation rates (57% for 2024/25 season 1
Slide 8: Altuvoct: Annualised haemophilia A sales approaching >SEK 6bn
Altuvoct: Annualised haemophilia A sales approaching >SEK 6bn and growth continues Haemophilia A sales SEK 1,581 M Value at stake +31% Q3 Best in class product Value captured • Effective once-weekly treatment for enhanced bleed protection & treatment burden as a key clinical benefit in normalisation
Slide 9: Gamifant: Accelerating growth with US launch in HLH/MAS
Gamifant: Accelerating growth with US launch in HLH/MAS and strong momentum across indications Gamifant SEK 733 M +98% Q3 MAS launch accelerating growth • First-ever treatment for adults and children with Macrophage Activation Syndrome (MAS) in Still's disease • US launch in Q3, Adult patient growth
Slide 10: Vonjo: We are rebasing our Vonjo strategy, taking an impairment of SEK 6.6bn
Vonjo: We are rebasing our Vonjo strategy, taking an impairment of SEK 6.6bn, with a clear path to future growth Original expectation Q3 highlights Rebased strategy, base case Rebased strategy, upside case • Net sales SEK 307 M, -11% YoY, underlying demand strong +9% vs PY in Q3 Illustrative • GTN p
Slide 11: Strong margin evolution delivering 47% adjusted EBITA
Strong margin evolution delivering 47% adjusted EBITA – creating space for future growth projects Cost discipline to fund future growth Q3 2025 Adjusted results, SEK M • Relative OPEX reduced from 38% Compared to 38% Compared to 43% 7,776 in Q3/2024 in Q3/2024 (Q3/24) to 33% (Q3/25), driving EBITA 2
Slide 12: Sobi's next growth horizon: significant progress with multiple near-term opportunities
Sobi’s next growth horizon: significant progress with multiple near-term opportunities 4 5 Priority development projects in Key and areas of high unmet medical need planned launches* 1. Gamifant - IDS 1. Altuvoct in Hemophilia A 2. Vonjo - VEXAS 2. Gamifant - HLH/MAS 3. Vonjo - CMML 3. Aspaveli - C3
Slide 13: Tryngolza (olezarsen): Highly significant TG lowering and pancreatitis reduction
Tryngolza (olezarsen): Highly significant TG lowering and pancreatitis reduction in patients with hypertriglyceridemia FCS & MCS Olezarsen CORE and CORE21 (n= 1,063) Highly clinically meaningful results Two randomised Phase 3, double-blind, placebo-controlled studies of olezarsen 72% 85% Design Q4W
Slide 14: Tryngolza (olezarsen): Significant commercial opportunity in MCS
Tryngolza (olezarsen): Significant commercial opportunity in MCS and ability to grow the market EU-5 MSC market size and current view Target patient population and initial positioning: • Current standard of care: diet, statins, fibrates MCS FCS • Only ~1/3 achieve adequate response (TG >880mg/DL) ~1
Slide 15: Guidance upgrade: raise full-year guidance
Guidance upgrade: Strong Q3 performance, and significant pipeline progress – leading us to raise full-year guidance Strong Business performance Significant pipeline progress Revised Full Year 2025 outlook 4 priority development Outstanding Q3 growth of projects in areas of high 21% in CER unmet medi
Slide 16: Q3 Financials
Q3 Financials Henrik Stenqvist Chief Financial Officer
Slide 17: Q3 2025 Revenue and profit & loss
Q3 2025 Revenue and profit & loss Q3 Q3 Full-year Total revenue (SEK M) Amounts in SEK M 2025 2024 Change 2024 Haematology Immunology Specialty Care Total revenue 7,776 6,894 13% 26,027 7 776 Adjusted Gross profit1,2 6,214 5,604 11% 20,326 7 436 6 894 385 347 Adjusted Gross margin1,2 80% 81% 78% 311
Slide 18: Sobi Outlook 2025
Sobi Outlook 2025 Key drivers for Q4 2025 2025 Outlook Overall: • Year-to-date performance and strong Revenue momentum in Q3 Revenue: Anticipated to grow by a low • Higher-than-expected in-market performance, double-digit percentage at CER particularly for Doptelet and Gamifant and continued momentu
Slide 19: Q3 R&D Pipeline
Q3 R&D Pipeline Lydia Abad-Franch Head of R&D and Chief Medical Officer
Slide 20: Solid pipeline progress in Q3 2025
Solid pipeline progress in Q3 2025 Uncontrolled gout NASP FDA accepted Biologics Licence Application Paediatric immune thrombocytopenia (ITP) Doptelet FDA approved extension & new sprinkle formulation Immune thrombocytopenia (ITP) PMDA approved ITP indication Still’s disease Kineret Submitted to PMD
Slide 21: Vonjo clinical program gained speed
Vonjo clinical program gained speed Phase 3 confirmatory study in MF Phase 2 study in VEXAS Expansion accelerates recruitment Recruitment ahead of plan Onboarded Strong interest from new countries & sites VEXAS community Q3 enrolment ~50% faster Recruitment than previous quarters ahead of schedule E
Slide 22: New long-term NASP data at ACR Convergence
New long-term NASP data at ACR Convergence American College of Rheumatology, 24-29 Oct 2025 NASP demonstrated long term durability of 100% of patients on NASP were sUA reduction through 48 weeks of treatment flare-free at the end of the study NASP (HD), n=19 Placebo, n=25 NASP (HD), n=19 Placebo, n=
Slide 23: Sobi ranks #1 in reputation among patient groups
Sobi ranks #1 in reputation among patient groups #1 Sobi Ranking1 by rare-disease patient groups #2 Roche familiar with company #3 BioMarin 32 companies in total #1 Sobi Ranking1 by rare-disease patient groups #2 Roche working with company #3 UCB 31 companies in total 1: Overall corporate reputation
Slide 24: Progress to be continued in 2025-26
Progress to be continued in 2025-26 Anticipated pipeline news flow 2025 Q4 2026 Aspaveli – C3G & IC-MPGN Altuvoct – Haemophilia A o EU CHMP opinion o FREEDOM Phase 3b initial study data o Japan regulatory submission Aspaveli – C3G & IC-MPGN Gamifant – HLH/MAS in Still’s disease o EU regulatory decis
Slide 25: Summary and Q&A
Summary and Q&A Guido Oelkers Chief Executive Officer
Slide 26: Key takeaways for Q3 2025
Key takeaways for Q3 2025 Outstanding Q3 growth of 21% in CER – driven by 39% growth in our strategic products portfolio Strong margin evolution delivering 47% adjusted EBITA We are rebasing our Vonjo strategy, taking an impairment of SEK 6.6bn, clear path to deliver future growth Significant pipeli
Slide 27: Q&A
Q&A 27
Slide 28: Current Development Pipeline
Current Development Pipeline Major ongoing clinical studies and medicines in registration in a major region or country Phase 2 Phase 3 Registration Vonjo® (pacritinib) Vonjo® (pacritinib) Aspaveli®(pegcetacoplan) VEXAS (Vacuoles, E1 enzyme, X-linked, Myelofibrosis with severe C3G & primary IC-MPGN a
Slide 29: Appendix: Q3 2025 sustainability performance
Appendix: Q3 2025 sustainability performance Sobi sustainability priorities Highlights in Q3 2025 Maintain commitment to Always act responsibly patients • Safe, healthy & fair working • Awareness and patient support • Access to treatment conditions • Patient centricity & • An inclusive & diverse wor
Slide 30: Thank you
Thank you Sobi is a trademark of Swedish Orphan Biovitrum AB (publ). © Swedish Orphan Biovitrum AB (publ) – All rights reserved Swedish Orphan Biovitrum AB (publ) SE-112 76 Stockholm • Sweden www.sobi.com 30